Used van prices recovered in August, with average values at BCA up in advance new 60 plate due in September.
LCV values improved by £99 to £4,211 in August, compared to the £168 fall recorded in July, representing the first rise in values since spring.
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LCV values averaged £4,211 across the board in August, a 2.4 per cent improvement against July’s values, with nearly-new and part-exchange values increasing.
Year-on-year values remain ahead by £466 or 12.4% in August and average monthly values remain well ahead of the £4,000 ‘price barrier’ that was breached for the first time in December 2009.
“Professional buyers were notably more active in August, buying stock to get ahead of the game before the anticipated hike in demand expected in September," said Duncan Ward BCA’s General Manager - Commercial Vehicles.
"Buying was still selective, however, with well-specified vehicles in good condition outperforming the market by a considerable margin, with little appetite for vans requiring refurbishment or repair.
"The buyers serving the retail market are looking for retail-ready vehicles to take away and sell tomorrow, not vehicles to sit in the repair bay or spray booth.
"High mileage and scruffy condition is a major turn-off, unless the vehicle is a rare and desirable specification."
“The budget market is more forgiving and tends to attract the non-trade buyer in greater numbers. A decent combination of condition, colour and specification is usually enough to stimulate interest even at a higher mileage, although obvious cosmetic damage is a big turn off."
Fleet and lease, part-ex and nearly-new
Average fleet and lease values fell by £73 - 1.5 per cent - to £4,757, a similar decrease to that recorded in July, meaning values have now fallen for four months in a row, following a run of six consecutive ‘record months’.
Part-Exchange values improved by £59, the first increase recorded in average values in this sector since April, while nearly-new values improved from £10,875 in July to £12,383 in August.
Generally, CAP figures for used LCVs improved notably in August, with the exception of the nearly–new sector which fell sharply.
The across-the-board figure rose over one and half points to 98.18 per cent, while CAP values for fleet vans improved by 1.7 points to 98.3 per cent.